Dr. Art Laffer, known as “the Godfather of supply-side economics” has endorsed praised Herman Cain’s 9-9-9 Plan. There’s more: Congressman Paul Ryan says he “loves” it. See a video below.
The famed economist told HUMAN EVENTS that the proposal was pro-growth and would create the proper conditions for America’s economy to expand and thrive again.
“Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy,” Laffer told HUMAN EVENTS in a statement. “The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates.”
Added Laffer: “Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance. There is no doubt that economic growth would surge upon implementation of 9-9-9.”
Laffer also said that “such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment.” …
“9-9-9” calls for a nine percent tax on income, a nine percent national sales tax, and a nine percent corporate income tax.
Congressman Paul Ryan (R-WI), the Chairman of the House Budget Committee, in an interview with the Daily Caller said he “loves Herman Cain’s plan,” saying it is a “good starting point for debate.” Ryan said he is “more of a flat-tax kind of guy. Herman Cain is really more of a Fair Tax kind of guy. It’s great for America to see those movements join forces and get serious about changing history.” Ryan said it is “great to see such bold ideas.”
Herman Cain explains his 9-9-9 Plan in the video below. Read more about Herman Cain’s 9-9-9 Plan here.
Herman Cain Explains his 9-9-9 Plan (video)